- Apollo Global Mgmt Llc
- 24 February 2025 16:37:54
Source: Sharecast
Apollo said on Monday that Bridge stockholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per share.
Upon closing of the transaction, Bridge will operate as a standalone platform within Apollo's asset management business, retaining its existing brand, management team and capital formation team.
Apollo's co-head of equity, David Sambur, said: "We are pleased to announce this transaction with Bridge, which is highly aligned with Apollo's strategic focus on expanding our origination base in areas of our business that are growing but not yet at scale
"Their business will complement and further augment our existing real estate capabilities, and we believe we can help scale Bridge's products by leveraging the breadth of our integrated platform. We look forward to working with Bob and the talented Bridge team as we seek to achieve the strategic objectives we laid out at our recent Investor Day."
As of 1610 GMT, Apollo shares were down 1.69% at $148.01 each.
Reporting by Iain Gilbert at Sharecast.com